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Topic: Adoption and Legality of Bitcoin and Cryptocurrency in india. - page 2. (Read 232 times)

legendary
Activity: 3472
Merit: 10611
In india, crypto assets like Bitcoin, Ethereum and XRP,etc are not legal tender according to the govt.

do you have any reliable source for this?
so far the only reliable thing i have read is that Indian Reserve bank has prohibited usage of their services to buy/sell bitcoin. and RBI is not the government so what they do or don't do has nothing to do with government's ban of bitcoin.
hero member
Activity: 1274
Merit: 519
Coindragon.com 30% Cash Back
Well, I think that is good enough that they have changed finance minister recently. It will all depend on how will yhey view cryptocurrency this time. As the most common reason why crypto is banned or regulated in some countries is because it can be used for money laundering and fraud acts, let's hope this time they can view crypto in a good way.
newbie
Activity: 8
Merit: 0
In india, crypto assets like Bitcoin, Ethereum and XRP,etc are not legal tender according to the govt. of India .In 2018 RBI (Reserve Bank of India) ordered to the all indian banks to disconnect there banking services to those websites which deals with  crypto assets and crypto transactions. And this order is going on.Due to this reason Many big Exchange shutdown in India. Zebpay is one of them.But the crypto community of Indian people is very large in India. That's why crypto community members files a lawsuit in Supreme Court in India.Supreme Court Made a committee for study about that.And the committee is working Hardly to get the crypto regulated in India.On 31 may,2019 the Finance minister of India is changed from Arun jetly to Nirmala Seetharaman. Hope She will Help Indian crypto Community members in regulation of Crypto assets in India.
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